PVDF Resin Market Report 2022-2027 icrowdnewswire.com
Polyvinylidene fluoride (PVDF) refers to a thermoplastic fluoropolymer resin that is produced from the polymerization of vinylidene difluoride (VDF). It is highly inert and offers surface hardness, high tensile strength, ultraviolet (UV) light resistance, etc. Consequently, PVDF resin is widely utilized in the production of piping products, sheets, tubes, films, plates, etc., across the globe. Furthermore, it is applied on curtain walls, aluminum windows, door framing, soffits, sunshades, etc., to form aluminum extrusions.
The global PVDF resin market reached a value of US$ XX Billion in 2021. Looking forward, IMARC Group expects the market to grow at a CAGR of XX% during 2022-2027.
Global PVDF Resin Industry Trends and Drivers:
The expanding electronics sector, on account of the rising sales of portable computing devices, smartphones, gaming systems, etc., is primarily driving the PVDF resin market. Additionally, the widespread product adoption in wires and cables, owing to its flexibility, lightweight, low thermal conductivity, etc., is further catalyzing the market growth.
Besides this, the growing utilization of PVDF resin for easy processing in extrusion, molding, and compounding is acting as another significant growth-inducing factor. Moreover, it is extensively used as a binder for manufacturing lithium-ion batteries, which in turn, is also augmenting the global market. Apart from this, the launch of numerous favorable policies by government bodies to invest in the renewable energy sector is anticipated to fuel the PVDF resin market over the forecasted period.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.